Israel: Chol Hamoed Credit Card Purchases Hit an 11 Year Low

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ccaAccording to officials in the Gamma Company which processes credit card debts, purchases using credit cards in Israel during chol hamoed Pesach hit an 11 year low.

Gamma CEO Ariel Ganot explains this shows a continuation of the trend which began a number of years ago, a trend shifting away from chol hamoed being viewed as shopping days. Ganot explains the average chol hamoed credit card purchase was 350 NIS as opposed to 378 NIS in chol hamoed 2012 and 295 NIS in chol hamoed in 2011. Credit card purchases in chol hamoed this year was 41% lower than chol hamoed Pesach in 2005.

Ganot says that the week before Pesach this year showed fewer credit card shopping purchases, once again a continued trend from recent years. He feels that while in the past Israelis used chol hamoed for shopping, today it is viewed as a time for family trips and hikes.

(YWN – Israel Desk, Jerusalem)